Norwegian Minister of Trade and Industry visits Elkem Carbon Fiskaa plant to discuss supply of critical raw materials

Kristiansand, Norway - 19 August 2025 - Norway's Minister of Trade and Industry
Cecilie Myrseth today visited Elkem Carbon Fiskaa in Kristiansand for
discussions on the process industry's role in supplying critical raw materials
to strategic value chains in Norway and the European Union (EU).

The visit follows the Ministry's announcement that it is initiating a
comprehensive mapping of Norwegian industry's contribution to national and
allies' strategic and critical value chains. Earlier this year, the Norwegian
government issued a white paper outlining Norway's industrial policy priorities
and proposed a New Minerals Act that was approved by Parliament. The Act will
streamline and modernise the legal framework for mineral activities in Norway.
The two initiatives aim to strengthen Norway's role as a sustainable and
reliable long-term supplier of critical raw materials to European and allied
industries.

"Norwegian companies such as Elkem are major suppliers of critical raw materials
to Europe. In an era marked by escalating geopolitical tensions and
environmental and climate challenges, the imperative to fortify strategic value
chains has never been more critical to secure Europe's competitiveness. Norway
will be a strategic partner in this process," said Minister of Trade and
Industry Cecilie Myrseth.

"For over 120 years, Elkem has been a reliable supplier of metals and
metallurgical products, steadily building resilient supply chains throughout
Europe," said Elkem CEO Helge Aasen. "Significant investments have been made to
establish complete and efficient value chains within the ferroalloy and silicon
sector in the internal market across the EU, Norway and Iceland. At a time of
geopolitical turmoil and heightened security risks, it is important for European
countries to unite and leverage existing assets and cross-border infrastructure
to secure industrial autonomy."

Elkem runs two quartz mines and six silicon and ferroalloys production and
processing sites in Norway and Iceland, employing over 1 600 workers across both
countries. Elkem is also one of the EU's leading silicones producers, with
production sites in France, Italy and Spain, which are part of an optimised
value chain based on silicon supplies from Norway. Norway accounts for
approximately 40 percent of the EU's imports of silicon and 35 percent of the
EU's imports of ferrosilicon, both critical materials in European
infrastructure, energy and military value chains.

During her visit at Fiskaa, Myrseth was also presented some of the pioneering
green technology projects being tested at Elkem Technology R&D Center. This
included the Horizon Europe-funded project MECALO, which seeks to apply carbon
looping for general metal production, with demonstration of zero CO\2\ silicon
and manganese alloys. It also included a project on the development of green
products through the recycling of slag and silicon materials, which could be
used in the automotive and construction industry. This project was recently
awarded NOK 32.8 million in financial support from Innovation Norway.

"It is a source of pride at Elkem that our products have among the lowest carbon
footprint in the world. This requires significant investments into research and
innovation. We were therefore excited to present some of our green technology
projects that have received financial support from the EU and Norway. Such
public-private partnerships are essential in accelerating the transition to
clean technologies and turning decarbonisation into a driver of growth for
European industries," said Aasen.

For further information, please contact:

Marianne Stigset
VP Corporate Communications & Public Affairs
Tel: +47 411 88 482
Email: marianne.stigset@elkem.com

About Elkem
Elkem is one of the world's leading providers of advanced silicon
-based materials shaping a better and more sustainable future. The company
develops silicones, silicon products and carbon solutions by combining natural
raw materials, renewable energy and human ingenuity. Elkem helps its
customers create and improve essential innovations like electric mobility,
digital communications, health and personal care as well as smarter and more
sustainable cities. With a strong track record since 1904, its global team of
more than 7,200 people has a joint commitment to stakeholders: Delivering your
potential. In 2024, Elkem achieved an operating income of NOK 33 billion. Elkem
has been awarded top score of A on Forests and Water Security, and B on Climate
Change from CDP. Elkem is listed on the Oslo Stock Exchange (ticker: ELK), where
the company is also included in the ESG Index. www.elkem.com